Question: ABC Inc. uses the FIFO cost method in a perpetual inventory system. table [ [ Jul , 1 , Beginning inventory 2 0 units

ABC Inc. uses the FIFO cost method in a perpetual inventory

ABC Inc. uses the FIFO cost method in a perpetual inventory system.
\table[[Jul,1,Beginning inventory 20 units @ $19 per unit,],[Jul,7,Purchases,70 units @ $20 per unit],[Jul,8,Sales,50 units],[Jul,9,Sales,25 units],[Jul,10,Purchases,50 units @ $22 per unit],[Jul,22,Sales,40 units]]
Total cost of goods sold for the month of July is
Select one:
a. $2,330.
b. $2,530.
c. $2,830.
d. $2,880
system. \table[[Jul,1,Beginning inventory 20 units @ $19 per unit,],[Jul,7,Purchases,70 units @ $20

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